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Business

Bank Machines Dispensing More Counterfeit Euros

The number of counterfeit euro bills being dispensed by automatic teller machines is increasing, according to findings by the Bavarian State Police (LKA). Investigators found ten cases so far this year. Officials in North Rhine-Westphalia confirmed 26 cases there over the past two years. According to Bavarian police, the reason for the increase can be traced to banks which, due to cost reasons, opt not to have the Germany's central bank check euro notes for their authenticity before stocking bank machines with them. While banks are not required to have the Bundesbank check all bills, if they are found to have put counterfeit money into circulation due to carelessness, they can be fined up to €100,000.